Rangers owner and chairman Craig Whyte has met with players and staff on Tuesday morning to discuss the club’s financial situation.

In a 30 minute meeting, Whyte explained to the players the reasons behind the decision to announce that the club intends to go into administration. He also discussed the implications for staff.
 
The Ibrox club lodged papers at the Court of Session on Monday notifying their intent to appoint administrators.

Whyte has insisted that administration is not inevitable, though likely, but that the step was a practical and necessary measure to ensure the long-term future of the club.

In a statement on the club’s website, the businessman said that Rangers are “facing massive financial challenges both in terms of its ongoing financial structure and performance and the potential consequences of the HMRC first tier tax tribunal”.

Administration could mean job losses at Ibrox and Whyte is likely to confirm that if an administrator is appointed, then it is possible that members of the playing squad may need to leave as part of cost-cutting moves.

IN DETAIL

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• What would administration mean for Rangers?
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• Firm linked to Rangers owner Craig Whyte banned after using clients' money to pay bills
• Administration at Rangers is 'almost a certainty'
• Rangers' administration statement in full
• £49m tax case against Rangers concludes
• Rangers FC face prolonged wait for decision in £49m tax bill dispute
• Craig Whyte interview: ‘I will wipe club’s debt if we win tax case’
• Whyte confident Rangers will win tax case
• Rangers Football Club's £49m tax tribunal under way
• Rangers 'could go under' if tax case goes against them